Mumbai: Recognising the rapid growth and huge potential, particularly among SMEs in Maharashtra, Ras Al Khaimah Free Trade Zone Authority (RAK FTZ) has invited Indian entrepreneurs to set up business in the United Arab Emirates (UAE).

UAE-based RAK FTZ is holding a series of seminars and presentations followed by B2B interactive sessions for entrepreneurs in Mumbai from October 30 to November 1. Senior officials from RAK FTZ will meet and assist businessmen in setting up operations in the UAE, a statement said here on Sunday.

With an initial investment of just Rs 2.5 lakh, Indian businessmen have the opportunity to set up an office in the UAE and enjoy all tax incentives and 100 per cent capital & profit repatriation, it said.

Furthermore, they are eligible to apply for one UAE residence visa (family status) valid for three years and a bank account in UAE plus other advantages, the release said.

According to Maryam Al Murshedi, Deputy Director General of RAK FTZ, “we are looking to strengthen our position as a business hub and help SMEs connect to emerging markets such as the Middle East and North Africa. We are also focusing on providing more value-added services for our clients.”

Maharashtra presents a huge potential since it houses a large number of SMEs who are seeking to expand overseas. Since Mumbai has a high concentration of business entities, we believe that our forthcoming road show will be a good opportunity for these business entities to take advantage of our competitive packages in order to grow and expand their business not only in the UAE but also in the Middle East & North Africa, Murshedi said.